Tag: Regulation

Georgia to Unveil New Cryptocurrency Law by This Fall – Regulation Bitcoin News

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Authorities in Georgia are now holding discussions with industry representatives to finalize a bill designed to regulate coin trading, among other crypto-related activities. The legislation will be presented to the Georgian society this fall at the latest, a top central bank official announced. Central Bank of Georgia Talks Crypto Regulation With Market Players The National Bank of Georgia (NBG) is fine-tuning a draft law tailored to establish a legal framework for certain operations with cryptocurrencies with the help of interested parties from the sector. Public and business officials are currently…

Crypto Exchange Binance Approved by French Regulator as a Fully Regulated Digital Asset Service Provider – Regulation Bitcoin News

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Cryptocurrency exchange Binance has received regulatory approval from the French financial regulator to operate as a registered digital asset service provider. “Binance will significantly scale our operations in France to make crypto and our services more accessible to all,” the exchange said. Binance Becomes a Fully Regulated Crypto Exchange in France Crypto exchange Binance announced Wednesday that it received approval from the French financial regulator, the Autorité des marchés financiers (AMF), to operate as a registered digital asset service provider (DASP). The exchange wrote: Binance is now a fully regulated…

California Governor Newsom Signs Executive Order on Crypto, Blockchain, and Web3 – Regulation Bitcoin News

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California Governor Gavin Newsom has signed an executive order on crypto and blockchain to create a comprehensive and harmonized framework for Web3 technology to thrive. “California is a global hub of innovation, and we’re setting up the state for success with this emerging technology,” said the governor. California’s Governor Issues Executive Order on Blockchain and Crypto The governor of the U.S. state of California, Gavin Newsom, signed an executive order Wednesday to “create a transparent and consistent business environment for companies operating in blockchain, including crypto assets and related financial…

Lawmakers, SEC Commissioner Slam Chair Gensler for Focusing on Crypto Enforcement – Regulation Bitcoin News

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Several U.S. lawmakers and a commissioner with the U.S. Securities and Exchange Commission (SEC) have voiced concerns about the securities regulator expanding its crypto enforcement unit. “The SEC is a regulatory agency with an enforcement division, not an enforcement agency.” Lawmakers Oppose SEC’s Crypto Enforcement Focus A number of lawmakers and a commissioner with the U.S. Securities and Exchange Commission (SEC) slammed the securities watchdog Tuesday for focusing on crypto enforcement. This followed the SEC’s announcement that the agency nearly doubled the size of its crypto enforcement unit. SEC commissioner…

Pakistan Forms Committees to Decide Whether Crypto Should Be Legalized or Banned – Regulation Bitcoin News

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The Pakistani government has formed three committees to decide whether to establish a legal framework for cryptocurrency or ban it. The committees will review all aspects of the cryptocurrency business and come up with recommendations on the country’s crypto policy. Committees Constituted to Decide on the Legal Status of Cryptocurrency in Pakistan Pakistan’s federal government has constituted three sub-committees to decide the future of cryptocurrency and related businesses in the country, the Express Tribune reported Tuesday citing documents it has seen. The sub-committees were formed during a meeting chaired by…

Two South Koreans Paid in Bitcoin to Spy for North Korea – Regulation Bitcoin News

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South Korean law enforcement recently announced the arrest of a serving military captain and an operator of a cryptocurrency exchange on charges of spying for a North Korean hacker. In return for the acts of espionage, the two South Korean individuals were allegedly paid bitcoins worth a total of $637,789. South Korea’s Joint Command and Control Targeted Two South Korean citizens, a businessman running a crypto asset management firm and a serving captain of the country’s army, were arrested on suspicion of passing military secrets to a North Korean hacker.…

Belgium Introduces Registration for Crypto Exchange and Wallet Service Providers – Regulation Bitcoin News

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Authorities in Belgium have obliged providers of some crypto exchange and wallet services to register with the country’s financial watchdog. Targeted platforms that fail to comply with the new regulations will face fines, among other penalties, including prohibition to carry out their respective activities. Financial Regulator Imposes Mandatory Registration for Crypto Exchange Service Providers in Belgium Starting from May 1, 2022, any legal entities established and operating in Belgium that want to provide exchange services between “virtual currencies and legal currencies” are required to register with the Financial Services and…

SEC Nearly Doubles Crypto Enforcement Unit — Regulator Says ‘Crypto Markets Have Exploded in Recent Years’ – Regulation Bitcoin News

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The U.S. Securities and Exchange Commission (SEC) has nearly doubled the size of its Enforcement Division’s crypto unit. SEC Chairman Gary Gensler said the regulator “will be better equipped to police wrongdoing in the crypto markets while continuing to identify disclosure and controls issues with respect to cybersecurity.” SEC Strengthens Enforcement Division’s Crypto Unit The U.S. Securities and Exchange Commission announced Tuesday that it has nearly doubled the size of the Division of Enforcement’s unit “responsible for protecting investors in crypto markets and from cyber-related threats.” Citing “the allocation of…

Uzbekistan Publishes Crypto Regulation Framework, Assigns Supervising Agency

As of Jan. 1, 2023, Uzbekistan residents will be able to buy or sell crypto only on the local exchanges, which must verify the identity of users through a know-your-customer process and store data about all the transactions for five years. Crypto service providers aren’t allowed to facilitate trading with “anonymous crypto assets,” a term not explained in the document. Source

SEC doubles down on crypto regulation by expanding unit

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The United States Securities and Exchange Commission (SEC) announced Tuesday that it would nearly double the number of personnel responsible for safeguarding investors in cryptocurrency markets.  As per the announcement, the SEC’s Cyber Unit, which includes the Crypto Assets and Cyber team, will hire 20 new people for 50 dedicated positions. The SEC stated that the 20 hires would include investigative staff attorneys, trial lawyers and fraud analysts. Chair Gary Gensler praised the appointments as long overdue and essential to overseeing one of Wall Street’s newest and most popular sectors.…